So I know the lender wants me to have some "skin in the game".

If your analysis is sound and you were able to give the Limited Partners (LPs) a 10% cash on cash return - the returns will be more favorable for you and your JV partner.As for syndication… in my experience Equity Investors, or passive LPs, would/will like to see “skin in the game” and have you invest alongside them.This deal isn’t right for syndication (too small in size), IMHO, and while it’s great that you have excellent credit you’ll also need a track record before you can be the lead operator and carry the fiduciary responsibility that comes with syndication (I’m surprised you feel comfortable with that role having zero experience), handle all the day-to-day operations, and make major business decisions.

If it is a home already in the MHP - you are not getting rent on it anyway, so providing free lot rents to get it repaired and sold is no skin off of your nose.

Thick skin is required too the problem in Ca. is properties are too expensive it can be done but takes a long time.

Like someone said - paying $79 to Home Depot - may hit the bottom line but in the grand scheme of things how much is your time worth - say $25-50 an hour - usually going to the store, picking up, delivering, unloading etc will take WAY longer than the amount you spent on those smaller things.A few guys have said it in podcasts - if you can find someone else to do something you can do 80% as good then have them do it and put your time to higher/better uses.Though with that being said - I only learned a lot of what I've picked up over the years by being hands on - but the road to get to any level of success certainly took way longer - Guess like they say there is more than one way to skin a cat so pick one and go with it.

And add in that "affordable: housing is the latest buzz word.I'm just hoping that they realize they need to keep landlords alive to collect taxes and water bills.Or to paraphrase Khrushchev: "If you're skinning someone alive, leave enough skin on so you can come back later and harvest some more."

Hello all, I just purchased my first 3/2 SFR in NE Pensacola and it needs advanced cosmetic work: cabinet finishing, countertop replacement, a window, roof repair, some wallpaper and texturing work, minor water damage in bathroom ceilings in vicinity of leaking roof boots.

No matter what you do you will need serious skin in the game.

Investment properties / loans do not look at employment they usually look at experience and your skin in the game.

They have more skin in the game then you do.Make sure you get clear title.